One high-profile example is the MBA offerings at the University of Wisconsin's Madison School of Business.

CNN: Degrees go for specialist redesign

Kevin Spellman of the University of Wisconsin-Madison and IE Business School.

FORBES: Magazine Article

Bob Reid, AACSB's chief accreditation officer and a former dean at James Madison University's business school, says the group now assesses schools in the context of their individual missions, rather than against a common standard.

WSJ: B-School Accrediting Body Retools Its Standards